MUNICH, GERMANY - Media OutReach Newswire - 28 March 2024 - Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) and HD Korea Shipbuilding & Offshore Engineering Co. Ltd. (HD KSOE) have signed a non-binding Memorandum of Understanding (MoU) as a first step towards jointly developing emerging applications for the electrification of marine engines and machinery using energy-efficient power semiconductor technology.

Infineon and HD KSOE jointly work on power solutions creating eco-friendly propulsion drives for ships that uses electricity and hydrogen as shown on this concept design of a LH2 carrier by HD KSOE.

HD KSOE, a marine pioneer and global leader in ship building, is already focusing on creating eco-friendly decarbonized ship technology that uses electricity and hydrogen. The company will now cooperate with Infineon to create innovative power solutions for propulsion drive technology, a core element for ship electrification. Power semiconductors from Infineon drive the transformation towards clean, safe, and smart mobility services across all means of transportation. For modern maritime applications they are a key factor in guaranteeing a precise control of multiple power modules, such as large-capacity propulsion drives.

Infineon will provide HD KSOE with technical assistance and mentoring in semiconductor power modules and system solutions, as well as share information on new semiconductor trends for marine applications. With the partnership HD KSOE aims to enhance reliability and performance of marine vessels' propulsion drive technology contributing to environmental sustainability through the electrification of ships.

Worldwide, maritime transport is responsible for almost 2.5 percent of total greenhouse gas emissions, according to the International Maritime Organization. It produces one billion tons of CO₂ each year. The transition to electric ships is imperative to mitigate the environmental impact of maritime transportation.

"We are pleased to sign an MoU with Infineon, which underpins our innovation efforts to become a leader in ship electrification technology," said Chang Kwang-pil, Chief Technology Officer of HD KSOE. "Together, we will combine our strengths to create energy-efficient power solutions for CO2-friendly propulsion drives."

"At Infineon we are providing the technologies needed in today's world of transportation to drive electrification that will shape the future of mobility," said Dr. Peter Wawer, Division President Green Industrial Power at Infineon Technologies. "We are excited to work closely together with HD KSOE to develop clean, safe and smart mobility solutions. This way, we contribute to a more sustainable marine engine ecosystem and drive the decarbonization of shipping."

Hashtag: #Infineon #electrification #sustainability #powersemiconductor

https://www.infineon.com/

https://www.linkedin.com/company/infineon-technologies/

https://www.facebook.com/infineon

The issuer is solely responsible for the content of this announcement.

About Infineon

Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 58,600 employees worldwide and generated revenue of about €16.3 billion in the 2023 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).